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| Name | Symbol | Market | Type |
|---|---|---|---|
| POSCO Holdings Inc | NYSE:PKX | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.80 | 1.07% | 75.50 | 75.56 | 75.14 | 75.23 | 5,022 | 15:00:23 |
From May 2019 to May 2024
By Lukas I. Alpert
MOSCOW--Russian coal producer OAO Mechel (MTL) said Tuesday that it has signed a three-year deal with South Korea's POSCO (005490.SE) to supply coking coal.
The deal between the Korean steelmaker and Mechel subsidiary Mechel Carbon (Singapore) Pte. Ltd. is for 500,000 tons of coal per year, the company said.
The price will be determining on a quarterly basis, the company said. The two firms also signed a one-year contract for the supply of 200,000 tons of PCI coal in 2013.
"Considering high market volatility, a long-term agreement with POSCO and several other major consumers will enable Mechel to provide its coal mining enterprises with stable orders," Mechel Mining Management Chief Executive Boris Nikishichev said.
Earlier in April, Mechel announced a deal with China's Baosteel Resources to supply 960,000 tons of coking coal annually.
Write to Lukas I. Alpert at lukas.alpert@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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